Publications
Publications
- March 2023
- HBS Case Collection
The Traits of Entrepreneurs
By: Jo Tango and Alys Ferragamo
Abstract
Entrepreneurship has the potential for extreme success but also comes with high risks. Given this risk-reward profile, we might wonder why individuals choose to become entrepreneurs. Are there personality traits that lead someone to become an entrepreneur? Can you predict entrepreneurial success? Although many questions still remain, there has been significant research on the “entrepreneurial personality.” This note provides an overview of the most frequently studied entrepreneurial traits, including the Big-5, need for achievement, locus of control, innovativeness, and risk tolerance. Where data exist, we chronicle what is correlated with a desire to be an entrepreneur and what is associated with actual success as an entrepreneur.
Keywords
Entrepreneur; Innovation; Personality; Personality Traits; Risk Preference; Big Five; Locus Of Control
Citation
Tango, Jo, and Alys Ferragamo. "The Traits of Entrepreneurs." Harvard Business School Technical Note 823-099, March 2023.